Trump tax plan

The proposed Treasury rules would limit states' use of charitable deductions as workarounds for the $10,000 cap on the federal deduction for state and local taxes.

Gregory Gizzi, senior vice president and portfolio manager at Macquarie Investment Management, looks at the effects of tax reform on municipal bond market this year. He also discusses what investors should look for in the second half of the year. Chip Barnett hosts.

Tax Reform 2.0 would make permanent the lower individual tax rates in last year’s Tax Cuts and Jobs Act that are scheduled to expire in 2025.

The plan for a second tax reform bill is galvanizing municipal market groups to step up lobbying efforts to tout the importance and benefits of munis to lawmakers on Capitol Hill.

The 1.2-percentage point reduction will amount to $12,000 in saving on a $1 million tax settlement.

The loss of the SALT deduction cost New Yorkers an additional $14.3 billion in 2018, state Attorney General Barbara Underwood told the Citizens Budget Commission.

George Callas most recently was senior tax counsel to House Speaker Paul Ryan and was a chief architect of the tax reform legislation enacted in December.

A Civil War-era revenue measure is the centerpiece of the arguments in the lawsuit filed by four northeastern states.

New York, New Jersey, Connecticut and Maryland claim the state and local tax deduction is essential to prevent federal tax powers from interfering with constitutionally guaranteed state rights.

A large share of the refundings that saved the city hundreds of millions of dollars wouldn't be possible now that advance refundings are eliminated, a city official said.